Clearwater Marine Aquarium unveils radically new plan (slideshow)

The Clearwater Marine Aquarium has presented a dramatically revised plan for its new downtown location. It’s more modest, with a lesser emphasis on show and more on rehab and rescue. It’s also a whole lot less expensive.

CMA documents released Friday estimated the cost at $68 million, a plunge from the originally projected $160 million. The funding is to come from a combination of bonds, bank loans, fundraising and a state grant of $2 million.

Perhaps the most notable change: a 2,000-seat theater for dolphin shows has been scrapped.

The announcement dovetails with the release of Dolphin Tale 2, scheduled for September 12 (with a premiere in Clearwater on Sept. 10). The 2011 first installment — a surprise hit about Winter, a tailless dolphin saved at the aquarium — effectively put CMA on the international map. The sequel prominently uses the facility’s name.

It would seem to a precipitous time to start raising money in earnest.

The new 200,000-square-foot facility is slated to go up on the site of the current Clearwater city hall, which will be demolished. If CMA does not raise the requisite money by Aug. 1, 2016, that deal goes away.